The Economic and Financial Crimes Commission (EFCC) says it has carried out its largest single-day operation against cryptocurrency and romance scam networks, arresting 792 suspects in Lagos.
The EFCC Director of Public Affairs, Wilson Uwujaren, disclosed during a press briefing that the operation, conducted at a seven-storey building known as the Big Leaf Building at No. 7, Oyin Jolayemi Street, Victoria Island, led to the apprehension of 193 foreign nationals, including 148 Chinese, 40 Filipinos, two individuals from Kharzartan, one Pakistani, and one Indonesian.
He said the raid followed months of surveillance and intelligence gathering on the syndicate’s activities.
Uwujaren described the building as designed to mimic a corporate financial headquarters, was allegedly used to train Nigerian recruits in romance and investment scams.
The official said the investigators found the building equipped with high-end desktop computers, and over 500 SIM cards were recovered from just one floor.
He stated that the syndicate reportedly recruited Nigerian youths with advanced computer skills, training them for two weeks on impersonation techniques to target victims in the United States, Canada, Mexico, and Europe.
Uwujaren explained that the recruits created fake online profiles to lure victims through platforms like WhatsApp, Instagram, and Telegram. Once trust was established, victims were directed to a fraudulent investment platform, ‘www.yooto.com’, where activation fees started at $35.
He revealed that the Nigerian recruits were unaware of the full scope of the operation.
“They worked under the supervision of foreign syndicate members and were paid either in cash or through personal accounts without formal employment contracts.
He noted that after securing victims, the recruits were cut off from the operation while the foreign kingpins completed the scams.
The director pointed out that the recovered items included desktop computers, mobile phones, laptops, and vehicles.
He revealed that the EFCC has obtained statements from the suspects and screened their devices, noting that all suspects are being detained under a valid remand warrant, with plans to arraign them in court soon.
Uwujaren highlighted the international nature of the crime, stressing the role of foreign nationals in exploiting Nigeria’s reputation and contributing to global fraud.
“This operation shows that the notion that Nigerians are solely behind these frauds is incorrect. Foreigners are leveraging our unfortunate reputation to establish criminal enterprises,” he said.
“The EFCC is collaborating with foreign partners to ensure that the arrested individuals face justice.
“There will be no hiding places for criminals in Nigeria,” he added.
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